7 d On December 31, Year 1, Strickland Corp. signed a 7-year finance lease for an airplane. The airplane's fair value was $841,500, which is the present value of the lease payments to be used to account for this finance lease. Strickland then made the first annual lease payment of $153,000 on December 31, Year 1. ut of Question What amount should Strickland report as finance lease liability in its December 31, Year 1 balance sheet? Select one: O a. $841,500 O b. $780,300 O c. $688,500 O d. $627,300 8 8 et of The Wentworth Company leased an asset from Appleton Company. Data: Asset BV: $250,000 Asset FMV: $300,000 Lessor and Lessee rate: 6% Annual 12/31 payments: $45,576 Lease Commencement: 12/31/21 8-year lease, 8-year asset life uestion Wentworth's 2022 Interest Expense will be approximately Select one: O a. $15,265 O b. $30,312 O c. $12,790 O d. $18,000 O e. $31,416